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3 AI-Powered Altcoins to Buy That Could Yield 100X Returns in 2024 – Crypto News

Published

10 months ago

June 8, 2024

Dripp

Artificial intelligence (AI) is an emerging innovation progressively permeating various global sectors, significantly enhancing all aspects of human life. In the blockchain industry, this technology is being leveraged for multiple reasons, including enhancing security measures, improving transaction efficiencies, and offering new methods of decentralized governance, making AI-driven altcoins attractive options to buy.

Santiment, a leading crypto analytics firm, reports a surge in social volume for AI projects as the weekend begins. This trend is especially notable for Synth AI and regulatory-focused projects such as Fetch.ai ($FET), Ocean Protocol ($OCEAN), SingularityNET ($AGIX), and Theta AI ($TAO).

🤖👀 Keep an eye on AI projects this weekend and early part of next week. There has been another gradual rise in social volume toward Synth AI, and regulation for projects like $FET, $OCEAN, $AGIX, and $TAO. These spikes in crowd interest are often followed by rises in price. pic.twitter.com/23qsh95SQe

— Santiment (@santimentfeed) June 8, 2024

Historically, increased crowd interest has often preceded price gains, suggesting potential positive momentum for these projects. Santiment’s Alpha Narratives Dashboard highlights this growing interest, signaling possible price movements in the near term.

Amid the recent Bitcoin drop below $70000, the consolidation/correction of most of the major altcoins is expected to prolong. Potential investors can use this opportunity to accumulate favorite tokens at discounted prices.

Also Read: Breaking: Elon Musk’s xAI Taps Into AI Image Generation & Other Features for Grok

1) Fetch.ai (FET)

Fetch.ai is a pioneering blockchain project that integrates artificial intelligence (AI) to create a decentralized digital economy. The core of Fetch.ai’s ecosystem consists of autonomous agents, which are programs designed to perform various tasks on behalf of individuals, organizations, and devices.

BINANCE:FETUSDT Chart — Fetch.ai (FET)| Tradingview

The Fetch.ai coin entered a fresh correction trend in late March as the price reverted from $3.48. The bearish turnaround tumbled the asset 48.3% to seek support at the 50% Fibonacci retracement level at $1.65.

The aforementioned backed by a 200-day EMA slope creates a high area of interest for buyers evidenced by the last tail rejection candle. The FET price currently trades at $1.8, while the market cap holds at $1.529 Billion.

If the support, the buyers could flip the overhead trendline to accelerate the bullish momentum. The post-breakout rally could push the asset to $2.7, followed by $4.8.

Also Read: Algotech presale nears end: Last chance to invest in AI Defi token

2) SingularityNET (AGIX)

SingularityNET aims to democratize access to artificial intelligence by creating a decentralized marketplace for AI services. The platform allows developers to create, share, and monetize AI algorithms on a global scale, using the AGIX token for transactions and governance.

BINANCE:AGIXUSDT Chart Image by sahilmahadik07

Over the past 10 weeks, the Singularity coin has witnessed a sideways action enclosed within two converging trend lines. The narrowing range revealed the formation of a symmetrical triangle pattern, known to recuperate the exhausted momentum and resume the prevailing rally.

By the press time, the AGIX price trades at $0.758 seeking liquidity at the pattern’s lower trendline. The SingularityNET coin currently holds a market cap of $974.5 Million, while the trading volume is recorded at $147.5. Million.

A potential breakout from the triangle pattern will intensify the buying momentum and allow buyers to challenge the $1.46 high and extend the rally to the $2.5 mark.

Also Read: Algotech Called The Next AI Leader: Can It Beat Solana and Arbitrum?

3) Ocean Protocol (OCEAN)

Ocean Protocol is a decentralized data exchange protocol that aims to unlock the value of data and make it accessible and monetizable in a secure and privacy-preserving manner.

BINANCE:OCEANUSDT Chart Image by sahilmahadik07

The ongoing correction in Ocean coin can be traced using a downsloping trendline in the daily chart. The dynamic resistance tumbled the asset value from $1.67 to $0.765, registering a loss of 54%, while the market cap plunged to $434.8.

The falling price has recently stalled at the 61.8% Fibonacci retracement level witnessing a renewed demand pressure. If the altcoin manages to hold that support, the buyers will challenge the overhead resistance for a bullish breakout.

This breakout will signal a shift in market dynamics, setting the stage for buyers to target prices at $1.10 to $1.67.

Takeaway

The cryptocurrency market has been experiencing a stall in recovery momentum since April and May, resorting to a fresh correction face on most of the major altcoins. The Bitcoin price struggling to sustain above $70000 bolsters the market uncertainty and lack of initiation from buyers. However, with the broader trend bullish and increasing utility of AI tokens, the dip opportunity shines for buyers seeking discount value.

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